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Australian Wool Market Targets US

AUSTRALIA – Wool consumption follows economic activity and Australian wool traders are keeping an eye on the US for its potential as the world’s second wool market.

Marketing strategies are being played out on both coasts of the US by Australian wool marketers, targeting the West Coast for its sports and outdoor companies and New York’s major manufacturers.

This is according to Australian Wool Innovation (AWI) which reports America as one of the lowest unemployment rates in the Organisation for Economic Co-operation and Development (OECD).

AWI analysts say US consumption is traditionally lower than it perhaps should be, around a third of UK consumption, per head, and at over $10,000 more per head income.

Unemployment is currently at 5.7 per cent and more jobs are opening in the US than at any point since 2001.

The large, mostly affluent population of the US makes the country attractive for traders, explains the AWI. It boasts 300 million people, many of whom live in a cold climate.

This puts the US second behind China in the AWI's list of "strategically important" markets.

“The US offers an opportunity to lift its wool consumption above the 150 million kgs clean as measured in 2011,” said the AWI.

There are positives to be taken from the fashion industry too, with awards and exposure propelling the image of woollen products.

“Influential US fashion blogger Nick Wooster visited Australia late last year and reported on his trip across properties and retailers in Victoria and NSW to his 400,000 followers on social media,” said the AWI in its March update.

“His experience and discussion has helped position Merino wool as an aspirational fibre to look for in fashion, casual and denim garments for men.”

Michael PriestleyNews Team - Editor

Mainly production and market stories on ruminants sector. Works closely with sustainability consultants at FAI Farms.